Tour the gold mines, every mine is a treasure!

Muruntau

The Muruntau gold mine is located in Uzbekistan and has an incredible resource base (estimated at over 150 million ounces). The mine is 3.3 kilometers long, 2.5 kilometers wide, and nearly 600 meters deep, and includes both open pit and heap leaching operations. The Muruntau gold mine is owned by the Uzbek government and operated by the state-owned Navoi Mining and Metallurgical Combinat. The Muruntau gold mine was discovered in 1958 and systematic mining began in 1967 and has never stopped since. For a long time, information about the Muruntau gold mine was classified as confidential. S&P counted the mine's gold production of approximately 2,829,226 ounces in 2019 and expects the mine to produce 2,893,567 ounces of gold in 2020.

 

Olimpiada

The Olimpiada gold mine is located in Russia's most productive gold mining region. The mine was first discovered in 1970 and has been mined in open pits since 1996. Olimpiada is the largest operation of Polyus, Russia's largest gold producer, accounting for one-third of its production. Olimpiada produced about 1,385,800 ounces of gold in 2019 and is expected to produce 1,594,492 ounces of gold in 2020.

 

Pueblo Viejo

Located 100 kilometers from Santo Domingo, the capital of the Dominican Republic, Pueblo Viejo is one of the largest gold mines in the country. Pueblo Viejo is jointly owned by Barrick Gold (60%) and Goldcorp Inc. (40%). Production at the mine began in 2012 and was in full production by 2014. Pueblo Viejo produced approximately 983,000 ounces of gold in 2019, and the mine is expected to produce 925,000 ounces of gold in 2020.

 

Lihir

The Lihir mine is located in the crater of an extinct volcano in Papua New Guinea. The mine was put into production in 1997 and currently has a total production of more than 10 million ounces. It is expected that the Lihir mine will produce 64.1 million ounces of gold during its production period. The Lihir mine is currently owned by Australia's Newcrest Mining, which acquired the mine in 2010 for $8.8 billion. The Lihir mine produced approximately 932,784 ounces of gold in 2019, and the mine is expected to produce 775,978 ounces of gold in 2020.

 

Cadia East

The Cadia East gold mine, located about 250 kilometers west of Sydney, is the largest and youngest of the three gold mines owned by Newcrest Mining. The mine was discovered in 1994 and did not start production until January 2013. At the current production rate, the mine is expected to have a lifespan of at least 2043. Cadia East produced approximately 912,777 ounces of gold in 2019, and the mine is expected to produce 843,338 ounces of gold in 2020.

 

Grasberg

The Grasberg copper-gold mine is located in Papua Province, Indonesia. The mine is owned by Freeport McMoRan, and the local government of Indonesia holds approximately 18.72%. The Grasberg copper-gold mine was discovered by Dutch explorers in 1936 and began production in 1972. The mine is currently moving from open-pit operations to underground. The mine produced approximately 863,000 ounces of gold in 2019 and is expected to produce 1,021,161 ounces of gold in 2020.

 

Kibali

The Kibali gold mine is located near the town of Doko in the Democratic Republic of Congo, 210 kilometers from Arua on the border with Uganda. Kibali is jointly owned by AngloGold (45%), Barrick Gold (45%) and Société Minière de Kilo-Moto S (10%). The Kibali gold mine produced approximately 814,027 ounces of gold in 2019 and is expected to produce 355,000 ounces of gold in 2020.

 

Loulo

The Loulo gold mine is located in western Mali on the border with Senegal, adjacent to the Faleme River. It includes two ore bodies, Loulo and Yalea, and is the largest gold mine in Mali. Barrick Gold holds an 80% stake in the mine, with the remaining 20% ​​owned by the Malian government. Loulo produced approximately 714,802 ounces of gold in 2019, and is expected to produce 650,000 ounces of gold in 2020.

 

Boddington

The Boddington mine is located 75 miles southeast of Perth, Australia, and is one of the largest gold mines in Australia. The mine was initially operated by three companies, including Newmont, AngloGold and Newcrest Mining, but is now fully owned by Newmont Mining. In 2019, Boddington produced approximately 703,000 ounces of gold, and is expected to produce 700,000 ounces of gold in 2020.

 

Canadian Malartic

The Canadian Malartic mine is located in Quebec, Canada, and is the largest gold mine currently operating in Canada. The mine is jointly owned by Yamana Gold and Agnico Eagle, each holding 50% of the shares. In 2019, Canadian Malartic produced approximately 662,918 ounces of gold, and the mine is expected to produce 550,000 ounces of gold in 2020.

 

Ahafo

The Ahafo mine is located approximately 190 miles northwest of Accra, the capital of Ghana, and began commercial production in 2006. Newmont owns 90% of the mine, and the Ghanaian government owns the remaining interest. Newmont completed the expansion of the Ahafo mine in 2019, and the average annual gold production of the Ahafo mine is expected to increase by 75,000 to 100,000 ounces starting in 2020. The Ahafo mine produced approximately 643,000 ounces of gold in 2019, and the mine is expected to produce 600,000 ounces of gold in 2020.

 

Paracatu

The Paracatu gold mine is located near the city of Paracatu in the Minas Gerais region of Brazil. It is the largest gold mine in Brazil and one of the largest gold mines in the world. Kinross Gold became the largest owner of Paracatu in 2004 when Kinross acquired the remaining 51% of the mine from Rio Tinto. In 2019, Paracatu produced 619,563 ounces of gold and is expected to produce approximately 540,000 ounces of gold per year from 2020 to 2031.

 

Fosterville

The Fosterville gold mine is a high-grade, low-cost underground gold mine located in Victoria, Australia, and is the largest gold mine in Victoria. The mine began operations in 2005 and is owned by Kirkland Lake Gold. Kirkland Lake is currently conducting further drilling activities in the area. Fosterville Gold Mine produced approximately 619,366 ounces of gold in 2019, and is expected to produce 600,000 ounces of gold in 2020.

 

Geita

The Geita Gold Mine is located between Mwanza and Kahama, Tanzania, about 100 km from Mwanza. AngloGold owns a stake in the mine. The Geita Gold Mine was once the largest gold-producing complex in East Africa. The mine was discovered in 1936 and produced a total of 967,918 ounces of gold between 1938 and 1966. The Geita Gold Mine produced approximately 604,000 ounces of gold in 2019, and is expected to produce 558,781 ounces of gold in 2020.

 

Detour Lake

The Detour Lake Gold Mine is located approximately 8 km west of the Quebec border in Ontario and 180 km northeast of Cochrane. It is one of the largest gold operations in North America. Detour Lake was discovered in 1974 and is owned by Kirkland Lake Gold. Detour Lake produced about 601,566 ounces of gold in 2019 and is expected to produce 530,000 ounces of gold in 2020.

 

Kumtor

The Kumtor gold mine is the largest gold mine in Kyrgyzstan and one of the top ten gold mines in the country, with an altitude of 4,000 meters. The mine's output accounts for about 8% of Kyrgyzstan's GDP and has produced about 10 million ounces of gold since its establishment. Centerra Gold of Canada owns an interest in the mine. Kumtor produced about 600,201 ounces of gold in 2019 and is expected to produce 540,000 ounces of gold in 2020.

Porgera

The Porgera gold mine is located in Enga Province, Papua New Guinea. It is the second largest mine in the country and one of the top ten gold mines. The mine has been developed since 1990, but has been plagued by social unrest, pollution, rights and tax issues. This year, the Papua New Guinea government refused to extend the expiring lease of the Porgera gold mine and wanted to nationalize it. Barrick and Zijin Mining each own 47.5% of the mine, and the remaining 5% is held by the landowner through Mineral Resources Enga. In 2019, the Porgera gold mine produced about 597,000 ounces of gold, and the mine is expected to produce 537,000 ounces of gold in 2020.

 

Kalgoorlie

The Kalgoorlie Gold Mine is located in Western Australia and is jointly operated by Northern Star Resources Ltd. and Saracen Mineral Holdings Ltd., each holding a 50% stake. In 2019, the Kalgoorlie Gold Mine produced approximately 570,000 ounces of gold, and the mine is expected to produce 570,000 ounces of gold in 2020.

 

Veladero

Located in San Juan, Argentina, the Veladero Gold Mine is one of Barrick Gold's five core mines and one of Argentina's largest gold mines. In 2017, Shandong Gold invested $960 million to acquire a 50% stake in the Veladero Gold Mine from Barrick. Barrick announced in August 2019 that it would spend $34 million to extend the mine life of Veladero, with the goal of restoring Veladero's glory. In 2019, Veladero produced about 548,000 ounces of gold, and the mine is expected to produce 510,000 ounces of gold in 2020.

 

Yanacocha

The Yanacocha mine is located in the mountains of northern Peru at an altitude of more than 4,572 meters, covering an area of ​​about 860 square kilometers. It is the largest gold mine in Latin America and is operated by Newmont. The Yanacocha mine has been producing gold since its discovery in August 1993. In 2019, the mine produced about 527,337 ounces of gold.